Corporate Governance Report

Intended OutcomeThere is an effective and independent Audit Committee.

The board is able to objectively review the Audit Committee’s findings and recommendations. The company’s financial statement is a reliable source of information.

Practice 8.5Collectively, the Audit Committee should possess a wide range of necessary skills to discharge its duties. All members should be financially literate and are able to understand matters under the purview of the Audit Committee including the financial reporting process.

All members of the Audit Committee should undertake continuous professional development to keep themselves abreast of relevant developments in accounting and auditing standards, practices and rules.

Application

Applied

Explanation on application of the practice

All members of the Audit Committee have relevant experience and necessary skills and expertise to effectively discharge their duties.

The qualification and experience of each Audit Committee member is disclosed in the Board of Directors’ Profile on pages 5 to 7 of the Annual Report. All members of the Audit Committee had undertaken continuous professional development and details of trainings attended can be found on page 33.

Explanation for departure

Large companies are required to complete the columns below. Non-large companies are encouraged to complete the columns below.

OTHERS
THREE-A RESOURCES BERHAD ("3A" OR THE "COMPANY") - PROPOSED RENEWAL OF AUTHORITY FOR SHARE BUY-BACK - PROPOSED RENEWAL OF SHAREHOLDERS MANDATE FOR THE COMPANY AND/OR ITS SUBSIDIARIES TO ENTER INTO RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE
13 Apr 2018